The Australian and New Zealand dollars found a tentative footing on short-covering gains on Friday, having slipped to two-week troughs when worries surrounding the European debt crisis fed a bid for safe-havens like government debt. The Aussie dollar edged up to $0.9977, from $0.9919 in New York, climbing off Thursday's trough of $0.9862. Firmer stocks in Asia, as well as, buying from Tokyo players and Australian exporters provided some support.
The New Zealand dollar nudged up to $0.7599 from this week's low of $0.7461, but was still down around 2 percent for the week. "A calmer finish to the week for the kiwi may well disguise potential moves next week as market liquidity falls with the approaching Christmas/New Year break," said ANZ-National senior dealer Alex Sinton.
The Antipodeans climbed off two-week troughs versus the safe-haven yen, but were nursing heavy losses. The Aussie was last at 77.62, down 2 percent for the week, while the kiwi traded at 59.13, 1.7 percent lower since Monday. The kiwi notched gains against Aussie, helped by the expiry of several large options. However, a widening rate gap likely to keep further gains in check. Aussie was softer around NZ$1.3116.
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